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GOP, GIPPSLAND OFFSHORE PETROLEUM LIMITED
apache123
post Posted: Aug 27 2007, 11:04 AM
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QUOTE (scorcher @ Monday 27/08/07 10:48am)

QUOTE
what are we thinking of this news apache?


Scorcher, in one swoop GOP have doubled their exposure in highly prospective Walton Basin and acquired a World Class tenement in AC/P36.

Shell recently paid big money upfront for its stake in NXS CRUX gas condensate field at AC/P41 to the west of AC/P36. This area is hotly contested by the big players who want to secure access to large gas deposits for future sales. LNG will be the hot ticket in 3-4 years time.

AC/P36 will probably be farmed out to at least one big player with the idea that the big player(s) foots most of the bill initially for the first few wells.

One may guess that BHP could have first bite of the cherry due to GOPs commercial arrangements and that BHP have the adjoining tenement AC/P30.



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Buyer beware: Do your own research before investing....
 
apache123
post Posted: Aug 27 2007, 10:49 AM
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AC/P36 Prospects Listed below;

NOTE: According to Finders article they were expecting a farmin partner by October 2007.

Finders already has 3D seismic over AC/P36.
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Buyer beware: Do your own research before investing....
 
scorcher
post Posted: Aug 27 2007, 10:48 AM
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In reply to: apache123 on Monday 27/08/07 10:33am

what are we thinking of this news apache?

 
apache123
post Posted: Aug 27 2007, 10:33 AM
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QUOTE
Gippsland Offshore Petroleum acquires Browse basin acreage & Takeover of Finder Exploration

Gippsland Offshore Petroleum Ltd (ASX:GOP) has agreed to acquire a 100% interest in a highly prospective Browse basin permit through a proposed takeover offer for privately owned oil and gas explorer, Finder Exploration Pty Ltd (Finder).

Finder directors have unanimously accepted a $A25 million offer consisting of 80 million Gippsland Offshore shares at a price of 31¢ per share.

Together Gippsland Offshore and Finder will create an ASX listed upstream oil and gas company with a market capitalisation of approximately $65 million offering Gippsland Offshore shareholders a wider range of exploration projects.

Gippsland Offshore managing director, Cathy Norman, said, “The deal will create an entity with an excellent asset portfolio spread across seven countries. The addition of Finder’s 100%
owned Browse basin permit to Gippsland Offshore’s portfolio gives us a strong position in Australia’s premier exploration acreage.”

Through the takeover of Finder, Gippsland Offshore will have exploration projects in  Australia, Jamaica, Madagascar, France, Kenya, the UK and New Zealand.

“The combination of Gippsland Offshore and Finder will consolidate the emergence of our company as one of the new breed of exciting and fast growing oil and gas companies listed  on the ASX”, Ms Norman said.

Gippsland Offshore and Finder are equal partners in the key Jamaica exploration project after jointly being awarded 5 blocks in the first Jamaica licencing round for 20 years. Already the partners have acquired an extensive 2D seismic survey and the unique airborne gravity gradiometry data using the advanced BHP Billiton FALCON® system to enable regional mapping and prospect identification.

“The asset portfolio of Finder is a logical fit with our own offshore operations. The combined entity will benefit from owning 100% of our exciting Jamaica exploration project. Our two companies have been working together on this project and we welcome the addition of Finder’s technical and entrepreneurial skills to complement our exploration team,” Ms Norman said.

Gippsland Offshore’s offer provides compelling benefits for shareholders, including:

• Highly complementary assets – increased exposure in Jamaica (100%) and possible new venture activities in Madagascar

• 100% interest in AC/P 36 in the Browse basin

• Interests in exploration acreage in New Zealand and the UK

• A skilled exploration team that complements Gippsland Offshore’s existing team

• Strengthening the management team with proven performance and excellent new ventures skills

The AC/P 36 permit in the Browse Basin, offshore Western Australia is 100% owned by Finder and sits 80 kms north of the Inpex operated Icthys gas field estimated to contain approximately trillion cubic feet of natural gas. The Browse region is fast gaining importance as an area likely host global scale Liquefied Natural Gas developments. The Browse permit has complete 3D seismic data coverage and Finder has undertaken interpretation and seismic inversion to delineate and characterise drillable prospects. There is a well commitment in this block in 2009.

The issue of Gippsland Offshore shares under the takeover offer is subject to approval of the shareholders who will receive details of the transaction in due course.

The merger will increase the Gippsland Offshore capital from 129,982,380 ordinary shares to 209,982,380 ordinary shares.


Any discovery at AC/P36 could be tied back to the BHP field in adjoining permit AC/P30.
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Buyer beware: Do your own research before investing....
 
apache123
post Posted: Aug 23 2007, 02:05 PM
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Looks like GOP is back on the menu....

The downtrend line appears to have broken, though the volume traded is light.

In the next few weeks we should have a better idea of;

(a) Who's farming in to the Jamaican tenements (and paying back $$ for the privilege)
(b) Lamu prospect sizes via Falcon analysis
© Results of Madagascar Bids
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Buyer beware: Do your own research before investing....
 
moses
post Posted: Aug 16 2007, 02:46 PM
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In reply to: petzl on Tuesday 31/07/07 01:57pm

GOP looks very cheap again at these levels .. On the other hand I haven't heard news lately either.

 


petzl
post Posted: Jul 31 2007, 01:57 PM
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KEY EVENTS FOR THE QUARTER
• Jamaica project farm-out process commenced
• Kenya exploration completed
• Award of Madagascar exploration acreage

Cape D’Ambre and Isle St Marie Basin, Madagascar
Gippsland Offshore has applied for two high potential offshore exploration permits from the Government of Madagascar.
The permits are expected to be awarded soon to Gippsland Offshore and its joint venture partner, East Africa Exploration Limited of Dubai



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apache123
post Posted: Jul 31 2007, 01:27 PM
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Qtrly Report has an updated prospect map for offshore Jamaica.

The massive Boag prospect is almost 60km across.

Even if only a percentage of the Boag prospect is commerical, GOP will be in the money.

Most of the Boag prospect is also in shallower water ie. less than 600m depth, so no long lead time for deep ocean rig required here.

Lead 11F is potentially even larger than Boag but part of it straddles the boundary of the adjoining permits.
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Buyer beware: Do your own research before investing....
 
petzl
post Posted: Jul 21 2007, 06:42 PM
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Report thought to of caused recent speeding fine
GOP Graph



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scorcher
post Posted: Jul 20 2007, 08:06 AM
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In reply to: apache123 on Friday 20/07/07 08:01am

news cant be far away, either madagascar or the farm out partner, lets hope they dont just release the financials otherwise it could get ugly. Either of the other two items can not be too far away surely. Thanks for the charts Apache they are very handy and fill in a couple of the gaps. S

 
 


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